The bad, the worse and the worst

Just about 20 days back, SEBI released a research report proving that futures & options (F&O) trading was overwhelmingly a loss-making proposition for investors. The report showed that 89 per cent of investors lost money in these activities. F&O, as an activity, does nothing but make losses for investors to generate profits for the exchanges and brokers. However, this is not enough. Therefore, to further increase the losses of investors and the profits of the exchanges, trading hours are to be extended till midnight. Of course, 'exchanges' in India mean the NSE, given the actual market share. Anyway, the extended trading hours are good news. After all, why do traders need to make money? They would just waste it somewhere or the other. The fact that they are F&O traders prove